Vietnam encourages RoK firms to invest in food and pharmaceuticals

Vietnam and the RoK haven jointly developed projects to strengthen collaboration capabilities in the area of food safety. (Illustrative image)

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NDO – The Vietnamese Government and the Health Ministry (MOH) always seek to encourage companies from the Republic of Korea (RoK) to introduce new quality products and make investments in Vietnam’s food and pharmaceuticals industries, Minister of Health Nguyen Thi Kim Tien has said.

The Vietnamese official made the remarks at a May 16 working session in Hanoi with a delegation of the RoK Ministry of Food and Drug Safety (MFDS), led by its Minister, Ryu Young-jin, during which the two sides signed a memorandum of understanding (MoU) on bilateral cooperation in food safety, pharmaceuticals, cosmetics, and medical equipment.

She stated that Vietnam and the RoK have jointly developed projects to strengthen their collaboration capabilities in the area of food safety. Vietnam has imported many famous RoK foods, whilst exporting a lot of its food products to the RoK. Concerning the field of pharmaceuticals, many of the RoK’s drugs have already been licensed for distribution in Vietnam.

For his part, Ryu Young-jin noted that over the past years, adequate attention has been paid to strengthening cooperation between the MOH and the MFDS, aiming to ensure the improved health of both countries’ peoples.

The signing of the MoU has contributed to establishing a cooperation mechanism, towards organising annual ministerial-level meetings between the two sides in the future, he said.

At the working session, the RoK side mentioned a number of Vietnam’s regulations, such as the draft circular amending regulations on drug procurement at state-run medical establishments, and the revision of hygienic standards over the RoK’s Kimchi and seaweed, among others. The Vietnamese side offered clarifications on these two issues.